Possible change in MAGA course.

Happycoin.club - On July 27, before former US President Donald Trump's speech at the Bitcoin conference in Nashville, the rate of the MAGA meme token (TRUMP) dedicated to him collapsed.

Trump spoke out in support of cryptocurrencies, hinted at the inclusion of Bitcoin in the list of US reserve assets, bet on a significant increase in the price of BTC and even promised to fire the head of the Securities and Exchange Commission Gary Gensler, whom many accuse of being biased against the digital asset industry.

However, an hour before Donald began to voice his pro-crypto position, the price of MAGA began to be dumped, it fell sharply and continued to decline during Trump's speech at the conference, decreasing by 16%. Then the price of the cryptocurrency corrected by 4%, but in the morning in Moscow it began to creep down again. The bearish trend is explained by the mass sale of tokens for unknown reasons. It is quite possible that whales decided to play against the expectations of other market participants and got rid of coins.

After reaching a peak at $11.51, MAGA fell sharply and began to fluctuate within a descending channel formed by lower tops and bottoms. In this regard, it can be assumed that MAGA will fall to $5.2-5.3, bounce off this support zone and rise to resistance at $7.